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October 30, 2014

Bombardier Aerospace reports revenue increase of 29% for third quarter ended September 30th

Bombardier Aerospace’s revenues increased by 29% to reach $2.6bn for the three-month period ended September 30th, 2014, compared to $2.0bn for the same period last fiscal year. EBIT totalled $74m or 2.9% of revenues, for the third quarter, compared to $86m, or 4.3%, for the same period last fiscal year. EBIT before special items totalled $137 million, or 5.3% of revenues, compared to $86 million, or 4.3%, for the same period last fiscal year. Free cash flow usage amounted to $180m (including net investments to PP&E and intangible assets of $415m) for the third quarter ended September 30th, 2014, compared to a usage of $406m (including net investments to PP&E and intangible assets of $585 million) for the same period last fiscal year. Bombardier Aerospace delivered a total of 71 aircraft during the third quarter ended September 30th, 2014, compared to 45 for the same period last fiscal year, and received 76 net orders, compared to 26 for the same period last fiscal year. Bombardier Aerospace’s backlog reached a level of $37.9bn as at September 30th, 2014, compared to $37.3bn as at December 31st, 2013. As part of the new organizational structure announced on July 23rd, 2014, a workforce reduction took place over the past weeks and a restructuring charge of $63m was recorded as a special item. This workforce reduction is expected to generate approximately $200m in annual cost savings.